Can you get deja vu of deja vu or would that create a temporal loop in one’s head causing a complete mind mashup?
I’ve lost count of the number of times I’ve written about the 0.94 level in the pair but here we are again. Every move is different in its own way so we have to take each one on its merits.
AUD/USD daily chart 08 07 2014
There’s mild resistance here around 0.9405/10 but the stronger will come up towards the 0.9440/50 level which kept a lid on the top since April. After that the big 0.95 is the obstacle to get over.
The move at the moment is coming from the USD side so it’s not necessarily something I’d look to buy in to. If anything I’d be looking to fade any move to 0.95 should we get a spike, for a short term play.
I don’t like the way the US dollar is acting and more importantly I don’t really understand it. In those situations I’m more likely to keep clear until I get a better feel for things. I still like the bigger levels but I’ll be wary of adding any sizable positions until the picture becomes clearer.